LONDON (ShareCast) - Transense Technologies, an AIM-listed provider of sensor systems for the transportation and industrial markets, has signed a distribution agreement with a Chilean subsidiary of Otraco International.

Two Otraco Chile clients immediately placed orders for the delivery of Transense Technologies' iTrack mining vehicle monitoring system at two separate mines.

The contracts are worth a combined initial value of around £1m, with on-going anticipated sales of £0.25m per annum.

Chief Executive Officer, Graham Storey, said: "We are delighted to have received another major order for Translogik's iTrack system, having recently secured our first major sale with Kumba Iron Ore in South Africa. Our engagement with Otraco began over two years ago and provides an indication of how long it can take to move from initial field trials to a live system deployment.

"Transense believes that the combination of improved safety and the rapid return on investment the system can provide through increased productivity and maximising tyre life, makes a very strong commercial case for mine operators to adopt the iTrack system. We now have large deployments in two of the world's largest mining regions with major operators, validating our own confidence in the value and operability of the system.

"The endorsement of companies such as Otraco has proved invaluable, and we expect the recent sales momentum to accelerate as further trials around the globe lead to live iTrack deployments."

NR

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